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Best Penny Stocks to Watch With Bullish Investor Interest Right Now

Three penny stocks that investors are watching right now
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This article was originally published by PennyStocks

Why Investors Are Watching These Penny Stocks in November 

November has already been a landmark month for penny stocks. While we still have around half of it left, investors are searching for the best penny stocks to buy. As a result of the large number of factors impacting both penny stocks and blue chips, it can seem like a daunting task to keep track of everything simultaneously. But, if investors pick a few topics, and deduce how they can be profitable, it can be much easier to make money with penny stocks. 

[Read More] Hot Penny Stocks To Buy For Under $3 Today On Webull & Fidelity

Before buying and selling any small caps, it is crucial to know your tolerance for risk and investing strategy. This will help when it comes to making a penny stocks watchlist. In addition, it is prudent to have a viable and consistent trading strategy that is aligned with your portfolio goals. With all of that in mind, let’s take a look at three top penny stocks to watch right now. 

3 Top Penny Stocks to Watch Right Now 

  1. Dogness Corp. (NASDAQ: DOGZ)
  2. Harmony Gold Mining Co. (NYSE: HMY
  3. Genius Brands International Inc. (NASDAQ: GNUS)

Dogness Corp. (NASDAQ: DOGZ)

One of the bigger gainers of the day so far is DOGZ stock, up by around 18% at midday. This brings its six-month gain to a staggering 132%, which is no small feat. Although no news came out today sparking this major gain, we can look at some announcements made a week or two ago to deduce why shares may have shot up. 

Early in November, Dogness announced that it had completed over $1 million in Pet-Tech related shipments prior to the holidays. For some context, Dogness is a producer of a large range of pet-aimed products. This includes both OEM and private label offerings, which allow it to have quite a broad reach. Ahead of the holidays, Dogness expects its demand to increase substantially. And, this is especially true considering the massive companion animal adoption rates that have occurred as a result of the pandemic. 

“This is another significant milestone as we continue to work closely with our customers and the supply chain to secure inventory to meet holiday demand levels. Demand remains strong across our target geographic markets, as we benefit from multiple catalysts. Smart technologies, in particular, are being increasingly adopted by major retailers to meet customers’ needs.” 

Silong Chen, the Chairman, and CEO of Dogness

One of Dogness’ strengths is its massive portfolio of over 200 patents and patents pending. As a result, it is a highly recognized brand in all things related to domestic pets. With that in mind, will DOGZ stock make your penny stocks watchlist?

Penny_Stocks_to_Watch_Dogness (DOGZ Stock Chart

Harmony Gold Mining Company Limited (NYSE: HMY)

Harmony Gold Mining Company Limited is a penny stock that has recently fared well in the market. This includes its over 4% gain on November 17th at midday. In the past month, Harmony Gold has seen a solid bullish turnaround, pushing up by over 13%. If you’re not familiar, Harmony is a mining company that searches for gold, silver, copper, and uranium before extracting and processing it. Its operations are based in South Africa and Papua New Guinea, both of which are extremely mineral-rich. 

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During the fiscal year 2021, the company’s earnings and revenue increased year over year, according to the most recent statement. As a result of rising metal prices and strong company performance, the outlook for Harmony Gold was met. In addition, the company has been working to diversify and de-risk its asset holdings which have been a major positive for investors. The numbers also show that Harmony Gold is increasing in its financials, which is a great sign.

It’s worth noting that HMY’s stock price often moves in tandem with the price of gold itself. So when gold experienced a large rally, often HMY stock follows suit. On the other side, when gold goes down, HMY stock follows this same rule. Right now, things are very volatile when it comes to gold stocks. Despite the volatility, HMY stock is performing well at the moment. In the last month, HMY has increased in stock price. Noting this, will HMY stock be on your watchlist going into mid-November?

Penny_Stocks_to_Watch_Harmony_Gold_Mining_Company_Limited_HMY_Stock

Genius Brands International Inc. (NASDAQ: GNUS)

Genius Brands International Inc. is an entertainment company that we have previously discussed numerous times in the past few months. This company develops and licenses multimedia material such as television shows and cartoon series. Among its many series are titles such as SpacePop, Thomas Edison’s Secret Lab, Superhero Kindergarten, and many more. It caters to broadcasters, consumer goods, manufacturers, retailers, and others.

On November 15th, Genius Brands filed its Form 10-Q for the period ending on September 30th. According to this report, the company’s sales climbed by 585 percent year over year. Genius’ cash and cash equivalents, as well as marketable securities, were $130.2 million. The company’s Kartoon Channel! Achieved a 512% sequential growth in Application Installs quarter over quarter.

These numbers are very encouraging and show major growth for GNUS as a company. It also illustrates the major growth in demand for entertainment throughout that period. This arrives less than one month after Genius Brands International acquired WOW! Unlimited Media.

Regarding the acquisition, Chairman and CEO Andy Heyward said, “The acquisition of WOW! substantially accelerates the financial growth of Genius Brands, delivering on our promise to shareholders to execute meaningful and accretive acquisitions, as we seek to rapidly consolidate the marketplace and become the foremost producer, broadcaster, and consumer product licensor of high-quality children’s entertainment in the world.” With so much new info to think about, will GNUS be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_Genius_Brands_International_Inc_GNUS_Stock

Can Penny Stocks Continue to Show Bullish Momentum?

While it’s difficult to say what the future will look like for penny stocks, investors are excited about the next few months. One of the biggest factors on the table right now is high inflation rates in the U.S. as a result of the massive stimulus given out in the past year and a half.

[Read More] 3 Penny Stocks That Retail Traders Are Buying Right Now

Aside from this, we have also seen a sizable amount of bullish sentiment in the stock market in the last few months, which represents a turnaround from the previous period. Considering all of this, do you think that penny stocks can continue to show bullish momentum or not?

The post Best Penny Stocks to Watch With Bullish Investor Interest Right Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.



Author: D. Marie

Precious Metals

New Found Gold Neighbor Canstar Resources Might Be Sitting on Canada’s Next Big Gold Discovery

Canstar Resources (TSXV: ROX) might have discovered the biggest gold deposit in Canada’s hottest mining province, Newfoundland…

Canstar Resources (TSXV: ROX) might have discovered the biggest gold deposit in Canada’s hottest mining province, Newfoundland. The small-cap junior gold miner is currently drilling in a region that turns out to sit alongside the same tectonic boundary as another recently discovered billion-dollar gold project.

While many new gold discoveries have emerged in recent years, few have remained surprisingly unnoticed by the broader mining community. One of which is the flagship gold project of Canstar Resources, Golden Baie. In some samples, early testing has seen gold concentrations as staggeringly high as 4,485 g/t.

Despite this, Canstar Resources is still operating under the radar at the moment. However, given the other billion-dollar gold projects located nearby in the province, it’s only a matter of time before it starts gaining a lot more attention from the mining community.

Is Newfoundland the New ‘El Dorado’ for Canadian Gold Miners?

In recent years, Newfoundland has emerged as one of the most exciting areas for gold discoveries. Millions of years of tectonic activity created geological conditions ripe for high-grade gold mineralization. 

However, the area has remained largely unexplored. Whether due to a lack of technology or technical knowledge, past prospectors dismissed what would later turn out to be multiple, massive gold deposits all along the province.

There are a few notable examples, but one of the most recent was the Queensway project, a 1,510km area owned by New Found Gold. This was a company that went it went public back in September 2020 at just $1.4 per share. 

Thanks to the excitement surrounding the Queensway project, shares quickly surged to over $10 earlier this year, with the company boasting a $1.2 billion valuation.

However, by the time most investors heard about New Found Gold and its gold project, shares had already shot up substantially. For those who felt like they missed the train on Newfound Gold, the good news is that history might be repeating itself, but this time with Canstar Resources.

New Found’s Queensway project and Canstar’s Golden Baie are frequently compared side by side. Not only are both just a couple of hours drive away from each other, but both happen to be located on the same tectonic boundary. In layman’s terms, multiple deposits are likelier to be found on a tectonic boundary due to how plates shift over thousands and millions of years.

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So far, Golden Baie is currently at an earlier stage of exploration than Queensway, which does mean it’s still a bit more of a speculative risk. However, analysis on the Golden Baie project shows that, based on surface-level gold concentrations, there’s likely a deep-seated gold system with multiple big deposits ripe for the picking. 

What’s more, these early results have shown similar grades of gold as the Queensway project, which single-handedly transformed New Found Gold from a penny stock into a billion-dollar gold miner.

How Big is Canstar Resource’s Golden Baie Discovery?

At 622 square km, Golden Baie isn’t the largest project by surface area. However, over 95% of the total site remains completely unexplored.

Initial exploration attempts took place in the earlier 1980s and continued for almost 27 years, with geologists finding little at the time besides small gold deposits. It’s a common story with most Newfoundland gold discoveries, as many were initially passed over before their true potential was rediscovered.

It was only until 2019 that prospectors realized Golden Baie was likely sitting on top of a tremendous gold deposit. Some recent samples have shown incredibly high gold grades, including some rock pulp samples having as much as 4,485 g/t of gold. But even more down-to-earth results are impressive, such as over 289.3 g/t of gold at the Skidder site. 

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As for how large the Golden Baie gold deposit could be, that’s still to be determined. However, when you look at other nearby gold discoveries, even the most conservative estimates could make Canstar a fortungi

The smallest of nearby discoveries is owned by Anaconda Mining, whose Point Rousse project, located on the northern end of Newfoundland, contains over 119,000 ounces of gold. Marathon Gold has a closer deposit called the Valentine Lake project. These reserves are estimated at being over 3.1 million ounces of gold, the high end of what’s been found in Newfoundland.

Two other big projects include Matador Mining’s Cape Ray project, with 526,000 ounces of gold, and First Mining Gold‘s Hope brook project, with around 844,000 ounces. 

Given that all of these discoveries are within a couple of hundred kilometers of the Golden Baie project, we think the odds are that we’ll see similar results when further drilling data comes in. A rough estimate of between 500,000 and a million ounces of gold seems realistic, although it’s possible Golden Baie is even larger than that.

To put that into perspective, one million ounces of gold, at current spot prices, is just under $1.8 billion in mineable reserves. In contrast, Canstar Resources is worth just $25.3 million at the moment. 

Just like how the Queensway project catapulted Newfound Gold into a billion-dollar stock, so could Golden Baie transform Canstar Resources into a billion-dollar mining company, or around 40 times higher than its current market capitalization.

Some of the world’s top mining analysts agree. Billionaire mining investor Eric Sprott, one of Newfound Gold’s biggest backers, also owns a 32% stake in Canstar Resources. While not every junior mining pick from Sprott turns into a billion-dollar success story, the odds are looking pretty good that Canstar might just be one of them.

What Should Investors Expect from Canstar Resources in 2022?

Given how undervalued and ignored Canstar Resources is at the moment, it’s a prime candidate for investors looking for a mining stock with exponential growth potential. The key, however, is to buy in before the market catches wind of it. 

In other words, early investors looking for triple-digit gains should stock up on shares before further news about Golden Baie gets announced. The company is in the process of raising an extra $6 million to finance further drilling after releasing early drilling results in early November. Results were largely encouraging, suggesting that further, potentially larger gold deposits remain to be discovered. 

Canstar has been focusing primarily on an 8km strike length, which is still just a small portion of the expected 95km gold corridor that’s at the heart of the Golden Baie property. 

It’s also worth noting that, besides its flagship gold project, Canstar Resources also has a couple of other operations. This includes the Buchans-Mary March project, another Newfoundland site, which has historically ranked as some of the world’s highest grade volcanogenic massive sulfide (VMS) deposits. VMS deposits are one of the richest sources of copper, lead, and zinc, but the Buchans-Mary March project has found gold and silver as well as those other metals.

While Canstar’s other projects remain promising, its main catalyst for future price growth is still big gold project. Investors should expect more drilling results in 2022, news that could quickly transform Canstar into a nine-or-ten-figure valuation for lucky investors.

 

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Energy & Critical Metals

NEO Lithium’s Closest Neighbor Gets Ready to Drill

If you believe in the old adage, “the best place to find a deposit is near an existing one,” you should consider Portofino Resources (TSX-V: POR)…

lithium_triangle_portofino_resource

When Neo Lithium started early stage exploration they recovered surface lithium grades of 190 mg/L compared to 373 mg/L for Portofino Resources adjacent Yergo property.

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If you believe in the old adage, “the best place to find a deposit is near an existing one,” you should consider Portofino Resources (TSX-V: POR). This Vancouver-based company holds an option to acquire a 100% interest in the Yergo lithium brine project located in Argentina, in the heart of the Lithium Triangle, along with the Allison Lake North lithium and rare elements property. Portofino also owns five gold projects in Canada, and is overseen by an exceptional management team with deep experience in the resources industry.

One of the reasons that all eyes are on the Yergo project is the growing demand for lithium to support the green revolution. As one of the world’s lightest metals, lithium is playing one of the largest roles in our green and clean future. Demand is predicted to increase seven times over the next 10 years, reaching a total global demand of 1.79 million metric tons. Furthermore, for every 1% surge in battery electric vehicle (BEV) market penetration, the world’s need for lithium will rise by an estimated 70,000 tonnes per year. 

This has industry experts asking – where will the supply come from?

Sharing a similar geological history with a world class asset

Argentina, Chile, and Bolivia comprise what is known as the Lithium Triangle, and these countries host a whopping 75% of the world’s lithium resources. Portofino’s Yergo project is a salar located approximately 15 kilometres southeast of Neo Lithium’s 3Q project – one of the largest and highest-grade lithium brine deposits in the world. It was initially discovered in late 2015 and took only five years to advance to the construction phase. In October of this year, Neo Lithium announced it had received an all cash, takeover offer of $960 million for all its outstanding equity from Zijin Mining.